2 best stocks to buy now A funeral and burial services company and a trucking and related logistic services company are portfolio manager Guy Lapierre’s current ‘best buys’. Retail investors who still believe in big-name stocks such as Tesla Inc. and similar technology-based, disruption-oriented assets such as cryptocurrencies and solar energy stocks are better off sitting on cash. So proclaims portfolio manager Guy Lapierre. Mr. Lapierre is a vice-president and branch manager at PI Financial based in Greater Vancouver. He says: "I see those classes as representing the greatest vulnerability in the broad market." By and large, names like Tesla Inc. and Shopify Inc. have already run to extremely high prices on speculation during the pandemic (for example, after peaking at about US$180 a share in February 2020, Tesla rallied from a COVID low of about US$85 per share the following month to more than US$400 by August 2020 and has skyrocketed even further since, sitting above US$700 a share in the first week of August 2021) that on-the-ground results could never justify, the portfolio manager asserts. "Elon (Musk) and Tesla have yet to generate a profit from manufacturing a car," says Mr. Lapierre. He adds that at these extremely-high valuations, almost all holders are inclined to sell and few to buy, including Mr. Musk with regards to his Bitcoin holdings and Tesla shares (who, the portfolio manager predicts, will gradually sell both off). "The wealth has been made a long time ago and they're not going to buy more." “The whole market is going to drop” |